Portable Medical Devices Market to Reach $20 Billion by 2018 at a Phenomenal Rate With a Double Digit CAGR - New Report by MarketsandMarkets
(PRWEB) July 10, 2013 -- According to a new market research report "Portable Medical Devices Market; By Equipment (Cardiac, Respiratory, Hemodynamic, Fitness & Wellness, Independent Ageing, Insulin pumps, Ultrasound), Semiconductor Components (Memory, PMIC, Processor, Display, Sensor, Connectivity) (2013 – 2018)" published by MarketsandMarkets, the total market is expected to cross $20 billion by 2018, at a double digit CAGR from 2013 to 2018.
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The proliferation of smart phones, tablets and other mobile devices and the increasing demand for connectivity among all these devices has greatly influenced the healthcare industry. Medical devices used for applications like patient monitoring and data storage/transfer are now being integrated with wireless technologies. These mobile medical devices are an extension of the portable medical devices, having incorporated wireless communication capabilities (cellular, Wi-Fi, Bluetooth, ZigBee, ANT+ and so on).
The portable medical devices are generally used for measuring & monitoring data in combination with display or representation of the data on a mobile computing device, typically a smart-phone or a tablet. Mobile medical devices have brought dynamism to the portable medical devices industry with the advent of superior wireless technology. Incorporating wireless technology into portable healthcare equipment has augmented healthcare standards and helped in averting many dire health situations. It has also increased patient mobility, both at the hospital and at home.
The report covers the Global Portable Medical Devices Market and all its market aspects with future opportunities, drivers, restraints and others in detail.High penetration rates for mobile devices across the world, availability of a wide range of Medical Software Applications and custom ICs being used for manufacturing bringing down the device costs are the key drivers behind the incredible growth of mobile medical devices market.
This report describes different semiconductor components used in portable and mobile healthcare equipment such as memory, displays, processors, sensors, PMIC, display driver IC and connectivity IC. The major contributors to the semiconductor revenue of mobile cardiac monitor market are memory and processor. In mobile hemodynamic monitor market, processor and PMIC are the major contributors to the semiconductor revenue in 2013.
Processor will contribute 23% to semiconductor revenues of mobile hemodynamic monitor market as of 2013 while PMIC will contribute 20%. Connectivity will contribute 37% to semiconductor revenues as of 2013 while display will contribute 17% in the in the mobile respiratory monitor market. Display and Memory components of the equipment contribute to more than 62% of the total semiconductor cost of mobile ultrasound and insulin market in 2013. Semiconductor components contribute to roughly 58% of the end device cost in the fitness and wellness market. In independent aging healthcare products, roughly 31% of the semiconductors are for connectivity, while 19% are for display and processors as of 2013.
This report also covers the major healthcare equipment in the portable medical devices market which includes cardiac monitors, hemodynamic monitors, respiratory monitors, Fitness & Wellness, Independent Aging and Others. The two major segments which contribute the major chunk of the revenues in the overall market are cardiac monitors and independent ageing. Mobile cardiac monitor market is estimated to grow at a CAGR of higher than the mobile independent ageing products market from 2013 to 2018.
This report describes the overall portable medical devices market into four major geographical segments, namely, North America, Europe, Asia-Pacific (APAC), and ROW. North America is the largest contributor in almost five segments of mobile healthcare market. In the Independent ageing segment, Europe is estimated to contribute the largest share of revenues from 2013 to 2018. APAC is the emerging market where countries like China, Japan, Taiwan, South Korea, etc will be the most striking future markets for portable medical devices.
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